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US Online Gambling Market to Grow 51% By 2020
WILL U.S. ONLINE GAMBLING MARKET GROW 51 PERCENT BY 2020?
New figures from research group Technavio make some bullish predictions.
A teaser press release from the independent research firm Technavio predicts that the online gambling market in the US will grow at an impressive CAGR (compound annual growth rate) of more than 51 percent between 2016 - 2020.
To calculate the market size, the report considers the revenue generated from legal online casino, betting, and lottery segments in the United States, along with primary market growth drivers, challenges faced by vendors and the market as a whole, and key trends emerging in the market.
In 2015, the US was ranked 8th in the global online gambling market, positioned after China, the UK, Australia, France, Italy, Germany, and Spain, Technavio claims, noting that whilst only three US states currently permit online gambling, more than five are likely to legalise the genre by 2020.
If online gambling is legalised, the tax contribution to the national revenue will grow significantly, and more joibs will be generated.
"The popularity of computing and mobile devices, especially among the younger generation, is the main reason for the extended reach of online gambling market in the US," Technavio reports.
"Mobile ads are one of the strongest mediums of advertising, which reaches the untapped group of the population that refrain from going to a casino or a bar where betting is allowed, and influences them to try online gambling."
The study found that in the United States, the average age of an individual visiting a casino is 45 years, whereas the average age of an online gambler is 34 years.
"The increasing presence of a younger population on the online gambling platforms will be one of the significant factors driving the growth of the market during the forecast period,” the research company opines.
Betradar Launches US Sports Betting Solutions -
With only a few weeks to go until the betting and gambling world descends on ICE in London, Betradar have today announced that they will be launching a comprehensive range of tools and services to any company that will be looking to provide sports betting in a post-PASPA United States.
Final 12 For MPNPT Morocco -
Sunday on the MPN Poker Tour Morocco will see several trophies awarded at the Mazagan Beach Resort, with the largest going to the Main Event champion along with a prize of MAD 400,000 (c.€35,400).
MPNPT Morocco Updates -
Leading the 104 combined survivors from both flights is still Said El-Yousfi with 272,000 chips; visit the MPN Poker Tour blog for an end-of-day recap and full chip counts.
MPN Poker Tour Morocco Day 1A -
The MPN Poker Tour has returned to Morocco this week (January 11-14), featuring the MAD 1.5 million guaranteed Main Event, accompanying side events, and the activities and parties for which this tour has now become known on two continents.
2018 MPN Poker Classic -
The MPN announces the return of The Classic tournament series this January. The series is back following its successful €350,000 guaranteed debut in 2017. This time €500,000 is guaranteed, along with a once in a lifetime trip to Monaco for the Classic Champion.
PDC and Sportradar Renew Deal -
Following this month’s hugely successful World Championship, the Professional Darts Corporation (PDC) and long-standing partners Sportradar have renewed their multi-faceted cooperation that will see the leader in sports data and content continuing in their role as official data
Poker Yaar Joins MPN -
Available through download, instant play and mobile, Pokeryaar.com is live with Omaha, Hold’em and Five-Card poker variants, alongside MPN’s Fish Party, the industry’s only progressive jackpot SNGs.
New MPN Poker Rooms Tower Torneos -
Impressed with Microgaming, having already integrated with the Quickfire platform to gain access to some of the industry’s best gaming content, Tower Torneos has extended the relationship with poker.<
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